Local company planning to build 200 houses in benefits-sharing agreement

Business

By MICHAEL LAI
A LOCAL company plans to build 200 houses on 10-hectares of land at Nigibata in Gerehu, Port Moresby.
Pacific Network Services Ltd managing-director Paul Gigmai said the housing project was going to be delivered in a benefit-sharing agreement with L&Z Enterprises Ltd. Gigmai said the project included development of a
township in partnership with Chinese company China Jianshzu Ltd.
He said his company had 89ha of land for development in partnership with like-minded companies.
Gigmai said of the 89ha, 10ha was allocated for housing while 28ha had been set aside for township development by Jianshzu Ltd in a benefit-sharing agreement.
He said development would need a number of partners because it was a big project and would take at least 10 years to deliver.
“We are partners in number of projects and will also continue because we have signed an agreement,” Gigmai told The National.
“One house will have three rooms with kitchen, living room, showers and veranda separately for upstairs and downstairs.
“After the completion, each house will be sold to one client who will own both downstairs and upstairs.”
He said the planning was done and work would start next month
Pacific Network Services Ltd was formed in 2011 with the aim to manage land and develop it.
It has plant equipment including dump trucks, excavators, rock breakers, frontend loaders and backhoes.
It is now into land and property management and development in Northern, Milne Bay and Port Moresby with 59 employees.

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